How flexible benefits support employees in today's changing workforce
See how LSAs support employees and can be a solution for addressing the challenges and trends facing HR professionals today.
Benefits professionals face many challenges and trends in today's constantly changing environment, including remote work, inflation, and a diverse and distributed workforce. In fact, one in four Americans working remotely through 2021, and an estimated 22% continuing to work remotely or in a hybrid model through 2025. At the same time, employees are experiencing a loss in buying power due to inflation, which has been above 8% for the past few months (as covered in the video).
One solution to address these issues is through Lifestyle Spending Accounts, which allow employees to have flexibility and control over their benefits. To support employees through these challenging times, benefits professionals can put in place programs and resources that offer flexibility and competitiveness in their benefits offerings.
In this video, Jason Fan, Co-Founder and CEO of Forma, Annie Itsell, Director of Total Rewards at Oscar Health, and Sheila Krueger, Head of Global Benefits at Zoom discuss their experiences in the benefits industry and provide tips for creating successful programs. The three offer guidance for getting an LSA program started, including how to avoid potential pitfalls and resources that can help make a program successful. Watch this discussion to learn how LSAs can be a helpful solution for addressing the challenges and trends facing benefits professionals and supporting employees through difficult times.